AgEagle Satisfies in Full All Payment Obligations for 2021 Acquisitions of MicaSense and senseFly at a 50% Discount
02 Août 2022 - 03:13PM
AgEagle Aerial Systems Inc. (NYSE American: UAVS)
(“AgEagle” or the “Company”), an industry-leading provider of
full-stack drone, sensor and software solutions for commercial and
government/defense use, today announced that pursuant to certain
waiver agreements dated as of July 22, 2022, the Company has made
final holdback payments in full satisfaction of its payment
obligations for the 2021 acquisitions of MicaSense, senseFly, SA
and senseFly, Inc. in an effort to strengthen its balance sheet and
properly position the Company for strategic growth opportunities.
Commenting on the debt negotiation, Barrett
Mooney, Chairman and CEO said, “Thanks to our institutional
shareholders who have continued to support our capital raising
efforts, and in light of the tightening capital markets, we are
very pleased to announce that AgEagle was able to settle more than
$7.35 million of debt at a significant and beneficial
discount.”
On July 22, 2022, AgEagle entered into waiver
agreements pursuant to which the Company was released from 50% of
its payment obligations relating to holdback amounts in connection
with the acquisitions of MicaSense and senseFly. Upon making cash
payments totaling $3,650,601 on July 29, 2022, AgEagle fully
satisfied its payment obligations.
Nicole Fernandez-McGovern, Chief Financial
Officer and Executive Vice President of Operations at AgEagle,
stated, “We are very pleased to have satisfied all contractual
payment obligations in consideration of our acquisitions of
MicaSense and senseFly at highly favorable, cash-preserving terms
for our Company. We will continue to seek creative and meaningful
strategies to further strengthen our balance sheet and create value
for our shareholders in the future.”
For additional details regarding the debt
settlement, please refer to the Form 8-K to be filed with the U.S.
Securities & Exchange Commission later today and accessible at
www.sec.gov.
About AgEagle Aerial Systems
Inc.
AgEagle and its wholly-owned subsidiaries are
actively engaged in designing and delivering best-in-class drones,
sensors and software that solve important problems for our
customers. Founded in 2010, AgEagle was originally formed to
pioneer proprietary, professional-grade, fixed-winged drones and
aerial imagery-based data collection and analytics solutions for
the agriculture industry. Today, AgEagle is a leading provider of
full stack drone solutions for customers worldwide in the energy,
construction, agriculture, and government verticals. For additional
information, please visit our websites at
www.ageagle.com.
Forward-Looking StatementsThis
press release may contain “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Such statements involve
risks and uncertainties that could negatively affect our business,
operating results, financial condition, and stock price. Factors
that could cause actual results to differ materially from
management’s current expectations include those risks and
uncertainties relating to our competitive position, the industry
environment, potential growth opportunities, and the effects of
regulation and events outside of our control, such as natural
disasters, wars, or health epidemics. We expressly disclaim any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in our expectations or any changes in events,
conditions, or circumstances on which any such statement is based,
except as required by law.
AgEagle Aerial Systems
Contacts:
Investor Relations:Gateway Group, Inc.Matt Glover
or Cody CreePhone: 949-574-3860Email:
UAVS@gatewayIR.com |
|
Media
Inquiries:media@ageagle.com |
|
|
|
AgEagle Aerial Systems (AMEX:UAVS)
Graphique Historique de l'Action
De Fév 2024 à Mar 2024
AgEagle Aerial Systems (AMEX:UAVS)
Graphique Historique de l'Action
De Mar 2023 à Mar 2024